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Car Affordability Calculator

↻ Updated 2026

Start with the monthly payment you're comfortable with and we'll work backwards — factoring in your down payment, rate, term and provincial sales tax — to show the sticker price you can afford.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Max monthly payment

Loan interest rate

Loan term

5.0 years

Down payment

Province

Sales tax 13%

Car you can afford

$26,771

sticker price at $500/mo

Max loan

$25,251

over 60 months

Total interest

$4,749

at 7% rate

Your budget breaks down as

Price$26,771

Sales tax$3,480

How we get there

Monthly payment budget$500

Supports a loan of$25,251

Plus your down payment+ $5,000

Less sales tax (13%)− $3,480

Affordable vehicle price$26,771

ASSUMPTIONS — Works backwards from your monthly payment using standard loan amortization. Provincial sales tax (13% HST) is applied to the vehicle price. A common rule of thumb keeps total car costs (payment, insurance, fuel, maintenance) under about 15-20% of take-home pay. Excludes registration, licensing and dealer fees. Data year 2026.

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Sources & rate references

·Standard auto-loan amortization

Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.